Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The Central Government has notified an authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973 as covered by clause (46A)(b) of section 10 of the Income-tax Act, 1961, making specified income of that authority exempt from tax effective for assessment year 2024-25, subject to the authority continuing to have one or more of the purposes listed in sub-clause (a) of clause (46A). The notification includes an explanatory memorandum stating that no person is adversely affected by its retrospective effect.
The Central Government has notified an authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973 as covered by clause (46A)(b) of section 10 of the Income-tax Act, 1961, making specified income of that authority exempt from tax effective for assessment year 2024-25, subject to the authority continuing to have one or more of the purposes listed in sub-clause (a) of clause (46A). The notification includes an explanatory memorandum stating that no person is adversely affected by its retrospective effect.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
